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by _7fvc
1922 days ago
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Keynesians think money grows on tree. It is true in some senses. Apples grow on tree. At the extreme, they think money is imaginary. They can print as much as they want. Austrians think money grows from hard money. It is also true in some senses. Money is made from money. It's circular and Ponzi-like. It requires you to believe in what hard money is. Austrian thinking leads to some cult-like behaviors. At the extreme, they'd be rent-seeking their precious Store of Value. It's just as evil as the Keynesians. Money is data (Keynesian) with some kind of illusions (Austrian). The money that we need is between the Keynesians and Austrians. |
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Meanwhile Austrian economics is just some meme that is anti Keynesian and doesn't even attempt to solve any problem other than get rid of Keynesian economics. This is especially telling when they are extra loud when no Keynesian economics are being done so they feel justified in their criticism.
What we have right now is closer to trickle down economics. Douse the rich in money with the hope that some drops reach the poor.